This is not a new things. Scammers are doing this for a long time because of the ease of creating a token and launching an ICO. The total cost for launching an ICO perfectly is below than $500 and scammers are taking that chance.
It is true that it is not easy to detect ICO fraud or not but it is not that hard. Very few scam ICO are well planned. If investor takes a deeper look at everything, it is easy to decide whether it is scam or not.
Topic: the first reason why fraud projects are increasingly rampant? - page 8. (Read 968 times)
legendary
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Every where there is business transaction that involves my money, you don't need to know how scams or fraud erupts. It is usually some greedy people's habit to take advantage of whatever is catching people's attention to making money. And with the knowledge of technology people can easily build the project site to decieve and get people down. And that's why we need every details to recognize them.
This here is one of the reasons we ended up with 70% scam ICOs between 2017 and 2018. It is so easy to build a template website while plagiarizing whitepapers. For as low as $50, scammers can cash out millions siphoned from unsuspecting investors all in a short period of time. I am glad that this disgusting trend has been nipped in the bud finally.
To be honest, this is insane. Like who offers such services for just $20? Well it's a good thing that the ICO market got naturally shutdown due to the decline in the investors patronizing them generally.now i understand the reason why we always see thousands of new start up projects without any real life solutions just a plagiarized whitepaper and a fancy whitepaper
It is as it always has been, you using it to shitpost.
I do agree with you that a lot of them look real but seeing scams icos and coins for so many years it is quite hard to believe more than a handfull of projects are of any future.
Edit:
Edit2: How the hell a newbie "always" complains about ico?
I do agree with you that a lot of them look real but seeing scams icos and coins for so many years it is quite hard to believe more than a handfull of projects are of any future.
Edit:
To be honest, this is insane. Like who offers such services for just $20? Well it's a good thing that the ICO market got naturally shutdown due to the decline in the investors patronizing them generally.now i understand the reason why we always see thousands of new start up projects without any real life solutions just a plagiarized whitepaper and a fancy whitepaper
When doing something simple to do, cheaply, price fall down naturally just as ICO's, as you saying.Edit2: How the hell a newbie "always" complains about ico?
I always complain about ICO projects not just because of rewards? but because of the increasingly rampant project fraud!
on the other hand the first reason why we find it difficult to know about fraud projects or not, because almost most ICO projects look real !!
and this is very unexpected, that there is a site that offers services to create an ICO project complete with ERC20 Tokens!
with only $ 50 a person can make millions of dollars from the results of fraudulent projects
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token
imagine if this continues, then the rich will increasingly become rich !! scamers
on the other hand the first reason why we find it difficult to know about fraud projects or not, because almost most ICO projects look real !!
and this is very unexpected, that there is a site that offers services to create an ICO project complete with ERC20 Tokens!
with only $ 50 a person can make millions of dollars from the results of fraudulent projects
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token
imagine if this continues, then the rich will increasingly become rich !! scamers
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